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Property Tax Should be a Consideration When Home Shopping

Since mortgage lenders are bound to consider tax rates when figuring a borrower’s ability to repay, buyers must also consider them when house hunting. Wide variations exist from town to town and knowing where taxes are low can aid in locating the property that is best suited to a loan applicant. The median price nationwide, according to a recent Wall Street Journal article, is $175,700 which means that, depending on your location within the Commonwealth, the tax bill could be below $2,000 or over $4,000 which is a difference of over $150 per month. Attorney Rob Anctil forwards this article with more information: http://www.bizjournals.com/boston/blog/bbj_research_alert/2015/01/massachusetts-property-tax-rates-in-2015-by-town.html